Advice please re offer in principle

SLH_2

I currently have a nationwide mortgage solely in my name and me and my partner have just reserved a new build house and going to be exchanging on the 7th December 2012.

I have had no credit problems in the past and our new mortgage will be 85% LTV.

My partner decided to do an online credit check and it came back with an unpaid CCJ from 2008 and paid off in 2009, however the company have not updated my partners credit file. We have been on the phone to them and they have now wrote to the court to confirm this is cleared however the 3 credit referance agencies said it will be at least 28 days to update. We have sent them evidence that the debt is cleared and the court will do it too.

My partner is a good payer apart from this issue, was just a problem with a dodgy landlord and if I had more time I would try and contest it. She only has £600 on a credit card.

We called our broker straight away to tell him whats happened so he put through an application with nationwide and also highlighted that there was a CCJ, so we have been honest. Nationwide have given us an offer in princible. Im so worried that they will pull out though. Can anyone offer any advice? Do you think they will be ok with it and make a full offer?

I am part exchanging my house and worried I will be liable for lots of costs if they do pull out.

SLH_2

Just bumping this up to see if anyone has any advice?

Thanks
SLH

sammyjammy

An offer in principle doesn't mean a great deal. The computer will have done the check not a person and the chances are the credit check they've done isn't a full one. When they come to assess your application they will ask for additional supporting data such as bank statements and will want to know more about the CCJ and how it ocurred. Nobody can tell you the result of this you'll just have to provide what they need and see hwat happens. I know that Nationwide are one of the more sympathetic lenders but I don't know what their reaction to a fairly recent CCJ is, someone more helpful will come along if you're patient.

SLH_2

Thanks for the reply.

when my partner handed her notice in on the house, she gave a forwarding address but they continued to write to the rental address (muppets).

This could of been challenged at the time as they did not keep there systems up to date.

We do have written confirmation now though that it was cleared a long time ago so we will be able to send this to Nationwide.

I have a good history with them and do overpay my mortgage every month. This is the only adverse thing that we have between us.

It came as such a shock to me as my partner is very good with money and always pays everything on time. I just feel so angry and upset that a dodgy rental company has the chance to ruin our chances of getting our dream home.

Im going to be lodging a formal complaint against them once/ if the mortgage does go through for 1) not updating there systems at the time with her new address 2) not updating the court with the fact that the CCJ was cleared. As soon as she was aware of the debt this was cleared so could of been completly avoided if they had updated the address.

It angers me that they were quick to go for a CCJ, yet they are incapable of keeping their records upto date. This is a breach of data protection as far as I am concered as they have a duty to ensure that all information is up to date and accurate!

All this stress and upset over an admin error!!!:(

sammyjammy

Its par for the course with smaller companies to go for a CCJ early if they cannot make contact, they can suffer the losses less so than a larger business. You should look into whether you can get the judgement set aside if you have evidence you informed them and cd reasonably have not known she owed them money. No point worrying until you have to. Best of luck.

TastyTeeth

It'll be a Decision in Principle if its an application through Nationwide, which is slightly different to an Agreement in Principle. They do the credit check up-front. If what you've told them matches up at the full application stage, you shouldn't have any issues going through to offer (subject to valuation etc).

SLH_2

TastyTeeth wrote: »

It'll be a Decision in Principle if its an application through Nationwide, which is slightly different to an Agreement in Principle. They do the credit check up-front. If what you've told them matches up at the full application stage, you shouldn't have any issues going through to offer (subject to valuation etc).

Phew, that has put my mind at ease sooo much, thank you. Think I am still going to worry until I get those keys though